President Barack Obama’s plan targeting coal-burning power plants will cost a quarter of a million jobs [sic] and shrink the coal industry by nearly half, according to a new report by the American Action Forum (AAF). …
The so-called “Clean Power Plan” will cost the industry $8.4 billion, nearly 10 times more expensive than the most burdensome regulation released this year, according to AAF, a center-right think tank led by Douglas Holtz-Eakin, former director of the Congressional Budget Office.
“This week, the Environmental Protection Agency (EPA) released its final greenhouse gas (GHG) standards for existing power plants,” according to the report, authored by AAF’s director of regulatory policy Sam Batkins. “The final plan will shutter 66 power plants and eliminate 125,800 jobs in the coal industry.”
“Perhaps more alarming, using the 2012 baseline for coal generation and projections for 2030 output, the industry could shrink by 48 percent,” the report said.
AAF based its report on EPA data, which estimated that the rules would lead to 34,000 “net decrease in job-years,” or jobs. However, the AAF argues nearly four workers depend on a single energy job.